Bangkok:Some 3.7 billion people reside in 51 developing nations where the interest payments on public debt surpass government spending on health or education, as reported by the United Nations Conference on Trade and Development (UNCTAD).

According to Anadolu Agency, developing countries paid $995 billion in net interest on public debt in 2025, which is nearly three times the amount in 2010. The median share of government revenue allocated to net interest reached 8.1%, almost double the figure from 2010. Global public debt reached $111 trillion in 2025, with $35 trillion attributed to developing economies. Although developed countries hold more than two-thirds of the total debt, the growth rate of debt has been faster in developing countries.

UNCTAD highlighted that developing countries are experiencing structurally higher interest rates, exacerbated by recent conflicts and crises. Additionally, external financing has become more limited as bilateral lenders shift development aid towards domestic priorities, and private creditors exercise greater caution. UNCTAD estimated that if developing countries could borrow at rates similar to those of developed economies, they could save approximately $500 billion annually. The agency advocated for stronger financial safety nets, a reversal of declining development assistance, increased lending by development banks, and improved national debt management.

The Borrowers' Platform, an initiative launched in April, will convene its first Governing Council meeting in Bangkok on October 12, alongside the IMF-World Bank Annual Meetings. It aims to provide developing countries a venue to share experiences and bolster cooperation on debt challenges, with UNCTAD acting as its secretariat. During the meeting, members are expected to formalize their participation and elect a chair for the 2026-2027 annual cycle.